Breeders Pet Food Case Study Essay - 1294 Words

Breeder’s Own Pet Foods Case Analysis Arnell M. Carmichael Bellevue University MBA 652: Marketing Strategy Professor Dr. Doug Brown 03/23/2013 Case Recap There are three main categories of dog food: dry, canned and treats. In 2011 the sales of dog food totaled somewhere in the arena of 14 billion dollars. Endeavoring to bring new dog food to an already established market can be a â€Å"daunting† task, especially when that particular dog food is frozen. Breeder’s Own Pet Foods as a whole has realized how diverse the dog food market is; however, brokers within this conglomerate believe that the true organic potential of this marketplace has yet to be â€Å"tapped† into effectively. With an ever-changing push toward becoming†¦show more content†¦Effectively, Breeder’s Own Pet Foods will have to find an effectual manner in which it will overcome objections to frozen dog food, price of their food in contrast to their competition (350 various brands) , targeted geographic location and methodology they will utilize to successfully market their product to the world (Kerin Peterson, 2013). Identifying the Root Problem Components The over-arching problem that Breeder’s Own Pet Foods has is which marketing-strategy would best serve as a vehicle for entry into the dog food retail business. Additionally, it has to select the most prominent geographic location (s) for distribution of its product. Another root problem component is how to get the supermarkets to stock and distribute this dog food since it is in the frozen category and may not appeal to traditional dog food buyers because they don’t readily associate dog food with frozen goods. Since Breeder’s Own Pet Foods does not have any Brand Equity, they must win the â€Å"hearts and minds† of its consumers by performance, availability and pricing. To accomplish this feat, it must train the minds of its patrons to begin to shop in the frozen department for organic dog food. Without the latter two suggestions, Breeder’s Own Pet Foods may have unsuccessfulShow MoreRelatedCase 2 Breeder s Own Essay1231 Words   |  5 Pagesï » ¿Marketing Strategy Team 2/Case Study 2 September 15, 2015 Breeder’s Own Pet Foods, Inc Breeder’s Own Pet Foods, Inc is a major producer of dog food for show-dog kennels in the United States. Their executives viewed the retail dog food market as a growth opportunity and would like to begin by introducing their product; Breeder’s Mix dog food into the Boston area in 2011. Breeder’s Mix dog food is a nutritionally balanced, frozen dog food that is among the costliest to produce. Their product

The Personality Of Personality Psychology Essay - 1051 Words

People are constantly growing and changing from the moment they’re born until the moment they die. Yet, some researchers believe that the personality is the one thing about a person that does not change over time. Genetics and environment equally contribute to the development of the personality. This is shown through the nature/nurture principle. The way a person behaves towards others, and reacts towards the world around them is determined by that person’s individual personality. No two personalities are alike. This is because a person’s individual personality is made up of a unique variety of characteristics called traits. Raymond Cattell, a researcher in the field of personality psychology, found that there were at least 171 traits identified and labeled by researchers. Many of these traits were closely related to each other, and carried the same meaning. Cattell realized this and â€Å"took a set of traits, collected ratings on them, and factor analyzed the ratings. The emerging factors were the traits he believed mattered.† (Carver and Scheier, 2012) This allowed him to narrow down the 171 traits into 16 primary personality traits. Cattell then used those 16 primary personality traits to create a personality inventory called the â€Å"16 Personality Factor Inventory†, or 16PF. Another prominent researcher in the field of personality psychology was Hans Eysenck. He believed that the two super-traits, extroversion and neuroticism, were the key dimensions of personality. HisShow MoreRelatedThe Personality Of Personality Psychology2685 Words   |  11 PagesPersonality psychology is a vast field which includes theories ranging from biopsychosocial to behavioral to evolutionary for explaining differences in personality among individuals, cultures, sexes, and more. Even though some theories are stronger or more reliable than others, there is no one true answer for explaining origins and development of personality. Therefore it is my goal to better understand this phenomenon by analyzing a variety of studies and their findings for explaining differencesRead MoreThe Psychology of Personality1307 Words   |  5 PagesRunning Head: Psychology of Personality Psychology of Personality Introduction 1.The foundations of the third force of psychology were laid by Carl Rogers, William Glasser and Abraham Maslow who coined the term of the third force of psychology. The main belief of the third psychology is that all people are good in an inherent manner and through a constant change in the beliefs, attitudes as well as the values; a person can become self-actualized who has the morals and the beliefs that can helpRead MorePersonality, Psychology, And Psychology1929 Words   |  8 PagesMeasuring Personality Imagine being able to scan anyone to know their minds profile. People present themselves through their personality, and psychology is like the minds functionality breakdown. Psychology and personality go hand and hand together. Using psychology and examination, personality can be measured and determined. To discover the basics of how one would determine personality psychologically, it is important to understand the basics of what psychology is and what personality is. AccordingRead MorePersonality Psychology : Myer Bringgs Personality2309 Words   |  10 Pagesinterested in personality psychology which states that we all have permanente and defined traits. Our personality â€Å"type† is also classified and determined and associated with certain personality traits. Upon exploring Myer Bringgs personality information, I find it interesting to realize that everyone can be classified into sixteen categories. As you explore this information, you find that you can ‘fitâ€⠄¢ into a few different ‘types’, but you fit best into one specifically. A personality type also tellsRead MoreThe Theory Of Personality Psychology1292 Words   |  6 Pages Personality psychology is a branch of psychology that focuses on the differences between people’s behaviors in terms of patterns, cognitions, and emotion. Personality psychology has been around for centuries, since Hippocrates’ Four Humors. Personality psychology has taken on many forms and has continued to develop throughout the centuries. Personality psychology is also developed with and from other fields of psychology like child development, behavioral, cognitive, and few others. PersonalityRead MoreThe Theory Of Personality Psychology1019 Words   |  5 Pagesnot like you at all? It’s ironic how a person personality is shaped. Personality is included in basically everyday life. Personality defines a person. Personality is like a big stew mixed with emotions, behaviors, and patterns of thought that truly define a person. 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Some are specialist in treating a specific type of psychologicalRead MoreTheories Of Personality And Psychology1382 Words   |  6 PagesStudent: Nisaa Kirtman PSY8100 CLIFFORD THEORIES OF PERSONALITY 3 (DEBATE EXISTENCE OF THE UNCONSCIOUS) Faculty Use Only Debate on Psychoanalysis vs. Behaviorism: Freud and Skinner Moderator: Good evening, and welcome to the Northcentral University?s debate on psychanalysis versus behaviorism. My name is Nisaa Kirtman and I am from the Department of Psychology. It?s an honor to be the moderator of tonight?s debate. The topic for tonightRead MorePsychology : Personality Psychology Exam1709 Words   |  7 PagesPersonality Psychology EXAM 1 PART ONE: SHORT ANSWERS 1. Is being accurate the same as being reliable? Is it the same as valid? Being accurate is a measurement of how close data is to its real value. An accurate result is true (most real) to its real value. It differs from being reliable. Reliability is the measurement of consistency in results each time a test is repeated. For instance, if one is able to get the same results during an assessment more than once then the measurement is more thanRead MorePsychology : Theories Of Personality1577 Words   |  7 PagesKirtmanNPSY800-4 NORTHCENTRAL UNIVERSITY ASSIGNMENT COVER SHEET Student: Nisaa Kirtman PSY8100 CLIFFORD THEORIES OF PERSONALITY 4 (ANALYZE THE HUMANISTIC APPROACH TO UNDERSTANDING PERSONALITY) Faculty Use Only The Humanistic Approach to Understanding Personality In the 1950?s, the field of psychology was dominated mainly by two schools of thought: psychoanalytic theory (the unconscious mind and unconscious motivations that shape human

China’s Compliance with its obligations under GATT and WTO Free Essays

The history of China and the General Agreement on Tariffs and Trade (GATT) dates back to 1948, when China became a contracting party after being among the 23 founding members of the organization. In 1950 however, the country under the Kuomintang government pulled out of GATT, but was later granted an observer status in 1982 after pleading that the pull-out was not done by a legitimate government. By 1986, China’s persistence to resume its position in GATT set a platform for talks with other member countries, which continued throughout the 1990’s. We will write a custom essay sample on China’s Compliance with its obligations under GATT and WTO or any similar topic only for you Order Now The country only managed to regain its membership in 1999 and joined the World Trade Organization (WTO) in 2001. By Joining WTO, China agreed to be bound by Subsidies and Countervailing Measures Agreement (SCM), GATT and Trade-Related Investment Measures Agreement (TRIMs) trade agreements. The entrance of China to the WTO was of great importance not only to the country, but to other world economies, which had observed the economic expansion of the country with heightened interests in the past decades. In 2000 for example, China was the world’s eighth largest importer and the seventh largest exporter of goods. The country accounted for $249. 2 billion in exports and $225. 1 billion in imports. In the commercial services sector China ranked twelfth in position at $ 29. 7 billion, while it was it was ranked as the tenth largest importer at $34. 8 billion (WTO news ). It was not however smooth sailing for the country and the other WTO signatories mainly because China is enormous in size and had a set trade regime by the time it joined WTO. As such, a change of the country’s legal and regulatory system in trade was required in order to ensure consistency with the WTO regulations. Although most countries supported the entrant of China to WTO, many observed that compliance for the country would not only need dedication, but also transparency. Sentiments regarding the hard task ahead for China were for example expressed by the United States’ Trade Representative, Mr. Robert Zoellick in 2002 , who said that since China had freely chosen its WTO obligations freely, other countries expected that the country would comply with all. Zoellick however agreed that meeting some of the obligations would not be easy for China, but would play a major role in ensuring that China was open to trade with the rest of the world. CHINA’S WTO OBLIGATIONS China took up obligations laid down in GATT, under the WTO by agreeing to non-discriminate and equally treat national trade from WTO member countries and also agreed to a adhere to the national trade policies as set out by WTO. First on China’s list of obligations under GATT/WTO, was the quota’s withdrawal requirement as earlier stated by the People’s Republic of China, under a protocol document. The country was also obligated to conform to the GATT 1994 agreement and the WTO agreement that addressed procedures involved in import licensing. Another obligation was the right to have enterprises in China trading in exports and imports as authorized under the customs territory of China. As such, China agreed to wipe out state import monopolies earlier maintained in the agricultural sector. In addition, china was required to subject all its imports and exports to rules set out under the WTO. More to this, the country was also subject to varying terms regarding price control restrictions and state trading (Vallera pp 2-3) GATT obligations included the prohibition of restrictions on imports specifically agriculture related imports. Another requirement under the GATT agreement related to giving imported goods equal treatment with the domestic products. In addition, the GATT agreement spelt out that fees or charges imposed on imports would be approximate to services rendered (Williams, Brett p 3) GATT Requirements GATT was a brain child of the United States, which first floated the idea of regulating 45,000 tariff rates in 1947 during an international conference held in Geneva (econ. iastate. du) . A year later, 22 other countries signed the trade agreement. Under GATT, a member country was to treat other signatory countries as a â€Å"Most Favored Nation† (MFN). The MFN treatment assured GATT member countries that non signatory countries would not receive lower tariffs than them. China was at war during the early years of the implementation of GATT, the discussions to rejoin GATT , which started in the 1980’s was further curtailed by the Tiananmen announcement , which marked halted Chinese interaction with the GATT member countries in 1989 (Skanderup p32) . On resumption of the talks in 1995, WTO had taken over from GATT and with the new identity came stricter requirements, which often led to stalemates of the negotiations. It was however, china’s realization of economic gains in terms of expertise, technology and capital gains from other countries that eventually convinced the country leaders of the importance of joining GATT/WTO. China was petitioning to be recognized as a developing country upon resumption to GATT/WTO. This was rightfully so because despite China being the largest economy among the developing countries, most regions in the country still registered very low GDP. Being recognized as a developing country allowed the country to enjoy special benefits under the agreement. Such included the elimination or reduction of tariffs on products from the developing countries; developed countries were also encouraged to avoid imposing tariffs and internal taxes on products from the developing countries. More so, the developed countries were alerted not to expect reciprocal trade from the developing countries (econ. iastate. edu). Compliance with WTO By the time that China was re-admitted to the WTO, the organization had 140 countries signed up for membership. The Bilateral agreement between china and the other member countries was therefore complex and long, such that the entire document was 900 pages and covered every aspect of trade as discussed. It was a consensus that China would implement some of the agreements in the 900 page document immediately, while others would be stretched over a five year period. Others still w ere expected to last the entire decade before China could finally reform its system entirely to match the compliance requirements. To aid the Chinese government in this, a WTO secretariat was appointed, with an assisting 16 subcommittees being mandated at monitoring the country’s progress and producing annual reports about China over an 8 year period of time (Skanderup, Jane p32). On its part, the Chinese government took up massive public education campaigns that sought to offer insight on what compliance meant. Local universities started offering degrees on international law, finance, foreign trades and trade. By the look of it, China had every intention to stick to the rule of WTO. Foreign governments, such as the United States government extended a helping hand and offered to create oversight bodies in Chinese state departments with an aim of ensuring that China complied with the WTO agreement. Transparency China did not always operate transparently in its trade dealings, regulations and decision making. As such, the WTO requirement signified a great shift in the country and so far, the country has done well in compliance with the GATT/WTO requirement’s on transparency. In this, China publicized trade related laws to improve how people accessed them. The most notable efforts were from the Ministry of Commerce, which adopted impressive policies with the aim of complying to the WTO transparency requirements (United States Trade Representative). However, there were complaints that China was not fast enough in its compliance. This was especially the case with short term goals that were supposed to be met within the first two years. In a 2004 review, it was noted that China had challenges with conforming to transparent practices especially with international set standards and value-added tax. In the six year period ending in 2007, China had eight dispute cases filed against it by other WTO members (Stewart et al p7) . Five of these cases were by the United States, while the European Union, Mexico and Canada had one case each. The eight cases were based on china’s non-compliance on Value added Tax, automobile imports, tax reductions and exemptions, trading rights, distribution services and intellectual rights on publication and audiovisual. The Transitional Review Mechanism is in charge of monitoring China’s progress and has raised these issues. Because of non-compliance, foreign and domestic business suffers frustrations when establishing businesses and often suffers from systemic uncertainties. Because of the language barrier, China still under the transparency requirement agreed to translate laws and regulations relating to trade into French, English or Spanish. The country also agreed to modify hundreds of its laws and regulations in order to become WTO compliant (USTR. gov) China also agreed to eliminate the local content requirement, foreign currency balancing requirement and export performance requirements from its laws. Allegations that China still manipulates its currency to date however abound. Intellectual Property rights China has been accused of not doing enough to ensure that the intellectual property rights are upheld in the country. Since joining the WTO, a 2007 TLAG report states that IPR infringement was at its worst in 2005 and 2006. To make it even worse, the report indicates that China had demonstrated no initiatives in trying to reform the criminal code in the country, which is the only way through which the country can enforce the protection of the intellectual properties (Stewart et al p11). Industrial policies China’s industrialized policies have always sought to protect local industries. This was meant to change after the ratification of the WTO agreement. However, complaints from other countries still abound pertaining to china’s protectionism measures over its auto part industry, export restrictions, regulatory interventions and subsidies on domestic industries. Subsidies China agreed to eliminate subsidies on exports and industrial goods. This was done under the Agreement on Subsidies and Countervailing Measures (SCM), China further agreed to stop subsidies on state-owned enterprises especially because some of the state owned companies were not profitable and only aided in destabilizing trade. The SCM agreement only prohibited subsidies on a limited range of products, and imposed countervailing duties. Such compliance encouraged Chinese industries to become more competitive especially because they were exposed to market pressures from foreign investors. Discriminatory Safeguard By acceding to the safeguard agreement China agreed to steer clear of WTO inconsistent tariffs and quotas, except those allowed by the organization on temporary measures. Under this agreement, non-compliance by China would earn her penalties that would see other WTO members imposing tariffs and Quotas on Chinese products, while denying China the ability to counter such actions (Halverson, Karen). Trading and Distribution rights China has scored fairly well in this front. However, the complaints from other member countries allege that the country still impose restrictions to specific products. Among the cases highlighted are import restrictions on copyrighted materials such as periodicals, books, audio and audio-visual products. The 2007 TLAG report indicates that China is yet to fully comply with the direct selling requirement since it still restricts direct sales from foreign companies (Stewart et al p12). Agriculture China has largely complied with the agricultural requirements but this depends on the market situation. At times, the country employs selective market interventions that cause delays in agricultural shipments. In addition, the country sometimes applies scientific rationales with the intention of preventing some agricultural commodities from entering her market. Other complaints allude that China lacks a consistent and predictable regulatory administration, which is laden with capricious practices in the customs departments. The Chinese agricultural market also lacks predictability and transparency. China’s agriculture obligations included her commitment to avoid providing export subsidies to the domestic producers. China also was obligated to lift the meat, citrus products, corn and wheat bans. The country further had to implement some tariff –rate quotas that world provide sufficient market to farmers from signatory countries. Services- Arguably, this is among the sectors where China has scored the least points as far as compliance to the WTO commitments is concerned. Despite the initial promises made under the general Agreement on Trade in Services (GATS), China is yet to lift some of its restrictions in the services sector. As such, other countries still experience limited access to the Chinese services industry. Areas of concern between 2001 and 2004 remained the financial sub-sectors (insurance and banking), in a 2007report however, the United States lauded Chinas efforts to comply with the obligations (USCBC) . It confirmed that China has indeed complied with the insurance requirements by lowering the total assets to $200 million down from the earlier requirement of $300 million on foreign insurers. In the banking sector, the USCBC report further indicates that China has lifted geographic barriers earlier set on its local currency, which mad business challenging for foreign based financial institutions. China also allowed her nations to freely choose among foreign or domestic owned financial institutions. In addition, the country removed restrictions that hindered ownership and operations of financial institutions thus allowing more foreign owners to invest in the industry. Telecommunication sector was however dragging behind, with the report stating that although China had committed itself to lift geographic limitations on data services and mobile voice for joint ventures, China was yet to draft regulations on how to meet that commitment. Another requirement on the telecom sector yet to be met by China is her commitment to expand the geographical capacity of domestic owned telecom services by raising foreign ownership to 35 percent. The engineering, architectural and urban planning requirements were however met between 2003 and 2007 and foreign owned enterprises can now take part in integrated engineering, planning and architecture without the requirement of domestic partnerships. The country is also yet to fully comply with WTO requirements set on the express delivery sub sector (Stewart et al p13). Foreign owned enterprises can operate in courier services but restrictions on the scope of business that such enterprises can engage in still exist. Obtaining licenses for the foreign based firms remains a big challenge for many. China’s obligation in allowing foreign firms to operate in freight inspection and testing services were yet to be met in 2007 as their were restrictions on the scope of business that a foreign firm could engage in. In a 2005-2006 US-China Business Council’s (USCBC) report, China is said to have complied with the advertising requirements, which allowed foreign-owned enterprises to invest in advertising companies. China met this requirement in 2005 through the country’s ministry of Commerce Foreign owned business own and operate hotel and restaurant business in China, but have to abide by set regulations. In this sub-sector, China is yet to comply with the WTO requirements since foreign-owned enterprises are restricted on the amount of air cargo space they can book (USCBC). Tariff Reductions China agreed to reduce its tariffs on agriculture products to 15 percent, with average tariff level for industrial goods being set at 8. 9 percent. Tariff reduction obligations were scheduled for immediate, short term and long-term implementation. Trading Rights Trading rights are two way under the WTO agreement. They include the rights to I) other WTO member countries importing products and services to china, and ii) China exporting its domestic products to other WTO countries. In 2004, China enforced trading rights process that ensured that foreign nationals registering businesses in the country did so without any hindrances. This was a step that was lauded by many signatory countries, most notably the United States. However, some deficiencies in trading rights still existed. Such included commitments on pharmaceutical and books importations. Another deficiency noted in China’s compliance to the WTO trading rights requirement was the lack of liberalization of agreed trading rights. Such includes wholesaling services, retail services, franchising services, agent’s services and other related services. By 2004, China was yet to open its markets to allow foreign investors to practice direct sales or off-location sales. Among the notable compliances in the trading rights requirements was china allowing importers and exporters to conduct their businesses directly, without using middle men. Tourism In 2004, China took the first steps to complying with the WTO in the tourism sector by allowing foreign based firms to acquire joint ventures in China. It was expected that by December 2007, wholly foreign-based enterprises would be able to operate in the Chinese tourism industry. It was also expected that all branch restrictions, registered capital restrictions and geographical barriers would be lifted. The WTO requirements for China in the Tourism Industry were initially meant for Xi’an, Shaanxi, Shangai, Guangzhou and Beijing regions. In a 2004 report to Congress, the US lauded China’s progress in complying with the tourism, professional, education and environmental services (United States Trade Representative ) . CONCLUSION China’s compliance and non-compliance is widely a matter of government and industry protectionism. Whereas the private sector players may intentionally avoid adhering to the WTO rules, the government, which has the capacity to press the private industry players towards compliance does not apply the necessary internal pressure required to move the players. The spirit of WTO agreement that China exhibited on its entry to the WTO was already running out in the third year of implementation. Other issues that arise in the only communist country as it puts up measures that ensures compliance to WTO is the fear of the China Communist Party of loosing national support. This is especially likely because the income inequalities in China are on a steep incline, something that the locals blame on the market reforms under WTO and the expanded private sector (Halverson, Karen) Overall, China has received mixed rating for its compliance levels of the WTO requirements. The United States is among the biggest bilateral trader whose public holds mixed reactions on the role of China’s trade to the US under WTO. Some of the notable complaints from US investors include China’s continued protection of its steel and auto producers. Other claims allege that China uses her tax system to discriminate particular imports. Some export regulations in China also contravene the WTO requirements. Such include restrictions placed on raw materials, thus driving up production costs. Foreigners claim this is discriminatory since foreign investor’s ends up producing at higher costs, while the Chinese nationals operate at lower costs thus giving the former a market advantage. Eight years later after China joined the WTO; many member countries agree that it is the high time that the country took accountability for its obligations. This is especially so because most of its requirements were meant for accomplishment in the first five years. The United States is one such country, which is pursuing dialogue, dispute settlement mechanisms, legal action or a combination of all in order to ensure that China complies. How to cite China’s Compliance with its obligations under GATT and WTO, Papers

Research in Accounting Business Ethics

Question: Describe about the Research in Accounting for Business Ethics. Answer: Part A Introduction Not only for the Strong Build Construction Company, but also for each particular association, it is significant to gratify the right individuals for their managerial opportunity after making an appropriate classification. Consequently, the CFO and the acquaintances should need to meet the terms with the strong conciliation skills for fulfilling the requests of the persons contributed in the supervisory process. Thus, the CFO and the acquaintances ought to meet the need to act in accordance with the strong negotiation skills for fulfilling the requirements of the persons contributed in the decision-making process. In this case, the CFO must necessitate the desire to keep in mind that the unyielding posture in the employment offer will considerably challenge the employment arbitration process. Body (i) Not only for the Strong Build Construction Company, but also for every single organization, it is important to satisfy the right individuals for their executive openings after making a suitable identification. Therefore, the CFO and the associates should need to comply with the strong negotiation skills for satisfying the requirements of the individuals contributed in the executive process. In this case, the CFO must need to remember that the rigid stance in the employment offer will significantly undermine the employment negotiation process (Foss and Stea 2014). Apart from that, the CFO and the other associates should need to consult with the employees at the executive level to determine about their expectation before developing executive compensation packages for them. Considering the elements of a precise executive compensation package, there are five key features needed to be discussed below: Basic PayIn order to define the basic pay, the CFO must need to consider the payments made by the other similar sized companies in the certain construction industry to the employees falling in the executive category. Benefits The benefits section of the executive package must need to provide high emphasis to ensure the needs of the identified employees are met duly (Hermanson et al. 2012). Short-term Incentive Compensation The executive compensation package must need to be included of the short-term incentives in the form of either share in the company or cash with ensuring the measurable objectives can be attained within one year. Long-term Incentive Compensation Long-term compensation plays the major role in developing the motivational factors within the employees. Therefore, the particular type of incentive included should need to be generous and powerful to encourage the employees to commit towards the company on a long-term basis to promote the success in the respective industry (Ims, et al. 2014). Executive PerksGiven the strict regulation of the government and active responses from the media, the CFO of the company should need to be careful in deciding this certain category. Therefore, the company should need to provide creative thinking by providing multiple facilities to the company executive level of employees. (ii) According to the suggestion of the agency theory, a firm can be viewed from the perspective of the nexus of contracts between the different resource holders. Agency theory develops with the involvement of agency relationship where one or more individuals are hiring one or more persons for performing specific services (O'Reilly, et al. 2014). Here, the hiring individuals are called as the principals, and the hired or recruited persons are known as agents. The decision-making authority is delegated to these agents by the principals afterwards. For the CFO of Strong Build Construction Company, it is essential to understand what pay system will be efficient and how their effectiveness will vary by considering the various contingency factors, such the environmental culture, competition, business strategy, characteristics of the employees, etc. Therefore, the company should need to develop a conceptual framework to facilitate the specific understanding (Pepper and Gore 2014). Agency theory is one of the traditional theories focusing on the divergent set of interests and goals of the numerous stakeholders of the organization to shape up the utilisation of the employee compensation. It suggests aligning the compensation packages provided to the employees according to these identified interests and goals. (iii) Difference between extrinsic and intrinsic motivation: Sr. No. Extrinsic Motivation Intrinsic Motivation 1) Extrinsic motivation suggests motivating a person to engage in an activity or perform in behaviour. Intrinsic motivation suggests engaging in an activity or performing a behaviour due the process is personally rewarding. 2) In this case, the activities are done majorly due to avoid punishment or earn rewards (Pepper and Gore 2015). In this case, the activities are performed by the individuals for their sake, rather than earning some external rewards. 3) Extrinsic motivation is influenced by the external sources associated with the individuals. Intrinsic motivation is affected by the inner mind-set of the individuals. Relationship between extrinsic and intrinsic motivation: It is worth to mention that motivation can be categorised as extrinsic and intrinsic. There is a significant association between the both of the motivating factors. When the individuals want to do something for their sake is categorised to be intrinsic, whereas the extrinsic factors suggest the activities are done by the influence of outside elements (Ferrell, Fraedrich, and Ferrell 2014). Therefore, it can be observed that both of the motivational categories supports the organization to achieve their goals and objectives according to the mission statement, while both have their positive and negative impacts on the individuals. (iv) Due to the rapid change of technologic environment and different rules and regulations as part of the political atmosphere, competitive global markets including the construction industry are facing major challenges. The dynamics of the competitive global markets have accelerated the pace of the organizational change procedures. Similarly, the organizations are exposed to some major number of risks, as it can be observed in the example of Strong Build Construction Company. Due to the necessity of the organizations to go through the significant changes over the different periods, the attitudes of the employees are required to be modified accordingly (Guidotti and Guidotti 2013). Therefore, the employee perception should need to be developed with the capability of taking risks. To ensure the certain process, companies have developed different compensation packages for the specific employees. These compensation packages are required to promote the employee engagement towards the risk tak ing aspect. (v) Employee benefits known as the non-wage compensation offered to the employees are optional in additional to its core payment from an organization. Insurance benefits, disability protection, health, and wellbeing criteria, funding of education, and some other significant factors are the factors as part of the employee benefits (Hill 2012). These certain factors associated with the employee benefits have their individual time periods for acquisition, which drive the employees of an organization to achieve those based on their performances. Therefore, not only the additional benefits but also determining the proper timeframe with these factors be equally important for the identified company for promoting the employee desire for obtaining them (Huang, Leonard and Tong 1997). Additionally, it must need to mention that the company is only able to provide its employees the increased flexibility and access to these benefits, but also can recruit and secure their retention for a long-term per iod. (vi) The perceived fairness in determining the employee compensation plays vital roles, as it is considered as the fundamental reason causing the employees to leave the organization. The concept of equity developed by the additional efforts put forwarded by the employees to the goals of the organization or even the job objectives of their certain posts (Malik 2012). These are basic reasons leading the organization to ensure the compensation developed and offered to the employees are rooted from the principles of fairness. Major research successfully indicated that the employees perception of the fairness and the equitable treatment is the fundamental attribute for the organization to drive their performance, engagement, and retention with the company. Therefore, unfair treatment is corrosive, especially in the case of the employee compensation, because of the unfairness in the treatment might have devastating impacts of the organization (Mancini, Vaassen and Dameri 2013). Destructive, procedural, and interactional are the three key types of fairness that the organization should need to consider while determining the compensation. (vii) By judging the case of Strong Build Construction Company, the executive compensation committee should need to provide benefits in determining the compensation for its employees. Although these advantages might be expensive for the company, these provide multiple intrinsic benefits to both the organization and the employees with maintaining a comprehensive benefits plan (Mattone 2013). With the help of the process, the organization can develop and retain the highly skilled and committed staffs, which is the fundamental driver for achieving the success in the identified industry. Conclusion In order to structure the executive compensation committee, not only the CFO of Strong Build Construction Company should need to provide the utmost priority, but also, the board and management should need to provide increasing awareness (Muna and Khoury 2012). It is observed that the continuous evolution in compensation has ensured the factor to become more decisive in retaining and motivating the critical talents of the senior level executives of the companies. Such evolution is observed after recovering from the impact of the recession in 2008. In order to develop the structure of the executive compensation committee, four mix components, and trends should need to consist (Occupational Outlook Handbook 2014). Annual based salary Developing and maintaining the bonus plans or annual incentives by considering the short-term performance measures Determining the long-term incentives by considering the long-term performance plans related to the implementation of the budget or returns to the shareholders Developing and offering the benefit plan Recommendation Determining employee compensation is a delicate subject, where most of the organizations become highly passionate in deciding the most appropriate compensation plan for their staffs and workers (Puckett 2013). As for the recommendation in determining the optimal employee compensation, the sensitive balance should need to be developed between the expectations of the employees and meeting the financial goals of the company. In line with the particular fact, some critical recommendations are highlighted below: The compensation plan must need to be includedin the benefit plans and incentives for the employees with having the precise guidelines for minimising confusions (Sputtek 2012). Before developing and offering the benefit plan, the company should need to have a clear understanding of the overall cost of the process. Therefore, the compensation committee should need to assess long-term expenses and direct cost adding up the total price of the benefit plan. Last but not the least; it is crucial for the organization to develop awareness about the talent or skill required for the identified job roles to provide a balance between the supply of talent to the recruiting area and the demands of those talents (The CAESAR, POLO ESAU papers 2007). Part B (i) a. The paper developed by Gold, Gronewold, and Pott (2012) is named as The ISA 700 Auditors Report and the Audit Expectation Gap Do Explanations Matter?. The major purpose of developing this research-based paper is to measure and evaluate the effectiveness of the particular explanations dictated by the revised ISA 700 auditors report. The certain revision is done for minimising the gaps in the different expectations of the auditors. In order to meet with the identified purpose of the paper, the researchers have ensured the participation of the German auditors and the financial statement users within a specific experiment (Tietz 2013). The identified experiment was based on reading the summary of the auditors report and financial statements with considering the explanations mandated by the ISA 700. The overall purpose of developing such an arrangement is to measure the gaps between the directed explanations of the ISA 700 and the opinions of the auditors. The implication of the process can be further identified by developing a comparative overview of the perception of those participants with the reliability of the financial statements alongside the associated responsibilities of the management (Vidal and Casey 2014). Therefore, developing this particular knowledge regarding the comparative overview is also a personal purpose of developing the identified research paper. (i) b. Big incentive Medium incentive Small incentive Group1 The auditors must need to be both internal and external. Financial analysis is done with the involvement of junior and senior analysts. Detailed financial information related to the financial statements can be obtained Group2 The participation of both students from the high and middle schools and the investors can be maintained. Auditing report can be developed with the clear indication of the profitability position of the business enterprise. The ability of the financial information to reflect the financial strength of the organization. (i) c. The process related to the manipulation checks is based on determining the discrepancies involving the multiple reports developed by the auditors and the accounting statement prepared during the time of preparing the financial statements annually (Williamson, Campagna, and Ogden 2012). Apart from that, another significant purpose of the manipulation check is based on the supporting the formation of the financial statements with the accordance with the necessary guidelines and framework supposed to be adhered by the process. Based on the argument raised by Moser and Martin (2012), the auditors are responsible for producing authentic reports representing the financial statements associated with the business organizations. In order to ensure the achievement of such responsibility, the auditors must need to consider the essential roles played by the manipulation checks (Wilson 2012). On the other hand, it is necessary for the auditors to record and report the possible manipulations ident ified within the business organizations. In this case, the manipulation checking process must need to track different expenses associated with the operations of the organization with scrutinising the bills and vouchers generated from the transactions. Considering the overall understanding, it can be understood that manipulation checks are responsible for resisting the illegal manipulations giving rise to the operational expenses for the business (Yeo et al. 2012). By citing the statement developed by ODwyer and Unerman (2014), proper identification of the possible discrepancies within the financial statements as well as the auditors report can be ensured by maintaining the manipulation checking process. In conclusion, it is worth to mention that multiple stringent measures are included within the process for systematically evaluating the sales revenues of the business along with the tax paid by the business organization. (ii) a. Based on the investigation conducted by the studies developed by Agayei, Aye, and Owusu-Yeboah (2013) and Okafor and Otalor (2013), it is identified that both papers are developed with the primary intension of investigating the 20th century auditing process emphasising specifically to the detection of fraud (Young 2013). However, the shift of importance can be noticed within the two papers towards the detailed information maintained within the major financial statements developed by the businesses. The profession related to auditing seeks to reduce the impact of discrepancies due to the implication of different lawsuits involving the certain business industry and the operations. Considering the preliminary understanding, the researchers have observed that the numerous stakeholders associated with the business organizations are dissatisfied with the roles played by the auditors regarding successful detection of fraud (Tietz 2013). Therefore, the significant goal of developing both of the studies is developing an assessment regarding the validity and reliability of auditors roles in multiple organizations of Ghana while considering the perspectives of both the stakeholders and auditors. (ii)b. By considering the study developed by Okafor and Otalor (2013), it can be analysed that the auditing expectation gap is determined by preparing the difference between the certain amount of estimated performance encountered by the auditors and the multiple users of the financial statements. Apart from that, the particular study has also recognised the gap representing the expectation by establishing the differences between the auditing activities and performance and the level of information distributed through the auditing process (The CAESAR, POLO ESAU papers 2007). In order develop the evidence; the collection of data was necessary, which was performed effectively through the questionnaire. On the other hand, the study formed by Agayei, Aye, and Owusu-Yeboah (2013) identified that the particular gap in expectation related to the auditing process emerges mainly due to the biases of the terms and concepts involved in the overall process. Furthermore, these terms and concepts include materiality, relevance, fairness, reasonableness, reliability, and fair value. In order to accomplish the study and come up with certain findings, the sampling technique was applied sufficiently (Sputtek 2012). By looking at the overall discussion, it seems the approach developed by Okafor and Otalor (2013) is more rigorous due to the focus was provided to the quantitative research process with considering the two major hypotheses. (ii) c. As determined from the report produced by Agyei and Gyamerah (2014), the study developed by Agayei, Aye, and Owusu-Yeboah (2013) considered the selection of participants as both male and female representing 72.5% and 27.5% respectively. Amongst these participants, the researchers made sure that 60% should need to have the experience of 5 years, while 30% should possess a skill level between 5 to 10 years (Occupational Outlook handbook 2014). The rest of the participants, i.e. 10% should acquire an even higher level of experience. On the other hand, the research paper developed by Okafor and Otalor (2013) had considered the several participants with their individual involvement in the accounting departments of different universities and public institutions. Therefore, it is quite clear that the approach developed by Agayei, Aye, and Owusu-Yeboah (2013) is superior and rigorous due to the utilisation of sampling frames and different demographic criteria. (ii) d. Considering the responses obtained from the respondents of the study developed by Agayei, Aye, and Owusu-Yeboah (2013), 45% agrees with the information portrayed within the financial statements, whereas 45% disagreed, as dictated by Boateng and Agyei (2013). On the other hand, the 65% responses of the stockbroker suggest that those frauds are detected within the financial statements of the organizations or institutes. Alternatively, the responses collected by Okafor and Otalor (2013) have led the study to reveal that the auditors are always responsible for assuring the delivery of accurate and reliable auditing reports alongside publishing the major financial statements (Muna and Khoury 2012). Another significant finding of the study proposed that 67.12% respondents reflected that they did not know about the core set of expectations out of the auditors with accordance to the statute books and relevant documents. Therefore, by looking at the findings, it is natural that Okafor and Otalor (2013) have gained and maintained an adequate response rate whereas the various responses failed to lead the achievement of a precise conclusion by Agayei, Aye, and Owusu-Yeboah (2013). (ii) e. As outlined by Ayuurebobi et al. (2015), it can be determined that the study developed by Agayei, Aye, and Owusu-Yeboah (2013) has considered two major parameters, namely Agree and Disagree. Thus, the agreement and disagreement of the various variables are judged by the process. Okafor and Otalor (2013) measured the responses obtained from the participants by ensuring the collection of auditing and financial data. Therefore, it can be quietly observed that the data analysis approaches inducted by Okafor and Otalor (2013) are highly positive due to the consideration of the financial information will help to develop an accurate and relevant result. (ii)f. Based on the argument raised by Kusi et al. (2015), some of the critical flaws have been identified in the research paper developed by Agayei, Aye, and Owusu-Yeboah (2013). The most significant error of them all is the complicated responses from the users about the auditing analysis related to the financial statements. Conversely, faults are also there in the work developed by Okafor and Otalor (2013), as the proper emphasis was required to be provided to the educational qualifications of the research participants (Mattone 2013). References Ferrell, O., Friedrich, J. and Ferrell, L. (n.d.).Business ethics. 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